Bleisure Travel Market Report 2024

The bleisure travel market size has grown strongly in recent years. It will grow from $394.1 billion in 2023 to $430.86 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth during the historic period can be attributed to the rise in remote and hybrid work models, an increasing focus on work-life balance, a surge in corporate travel and global business interactions, improvements in travel and hospitality services designed for business travelers, and the adoption of flexible work arrangements.

The bleisure travel market size is expected to see strong growth in the next few years. It will grow to $619.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth projected for the forecast period can be attributed to the ongoing development of hybrid and remote work arrangements, increasing demand for experiential and personalized travel, advancements in travel technology and connectivity, a greater emphasis on employee well-being and mental health, and the expansion of global business opportunities and international trade. Key trends during this period include the integration of AI and technology, a heightened focus on eco-friendly travel options and sustainable practices in the hospitality industry, the growth of digital nomadism, personalized itineraries, and further advancements in travel technology and connectivity.

The growth of the bleisure travel market is expected to be driven by the increasing working-age population. This group, typically defined as individuals aged 15 to 64 who are economically active and part of the labor force, is expanding due to higher life expectancy and increased birth rates in emerging economies. Bleisure travel supports this growing working-age population by improving work-life balance and employee satisfaction, which can enhance productivity and retention. For example, the Conference Board Inc., a US-based non-profit research organization, reported in May 2021 that the US working-age population is projected to grow over the coming decades, with the growth rate rising from about 0.2% in 2020 to 0.6% in 2040, thereby impacting labor supply. Consequently, the increasing working-age population is fueling the growth of the bleisure travel market.

Leading companies in the bleisure travel market are concentrating on developing cutting-edge solutions, such as artificial intelligence (AI)-powered corporate travel management and expense reporting platforms, to improve the management of travel and expenses for organizations. These AI-powered platforms employ advanced algorithms and machine learning to automate and refine travel booking, itinerary management, and expense reporting, thereby boosting efficiency and accuracy for businesses. For example, in February 2022, Coupa Software Inc., a US-based cloud-based spend management platform, introduced Coupa Travel and Expense. This integrated platform merges travel booking with expense management, providing real-time tracking, mobile accessibility, and intelligent expense monitoring to enhance user experience and compliance.

In July 2021, TravelPerk, a Spain-based travel and expense management service provider, acquired Click Travel Ltd. for $100 million. This acquisition bolsters TravelPerk's market position, broadens its customer base, improves its technology offerings, and aligns with its strategic growth goals in the corporate travel sector. Click Travel Ltd., a UK-based travel management company, offers bleisure travel services.

Major companies operating in the bleisure travel market are Marriott International Inc., Booking Holdings Inc., Carlson Wagonlit Travel (CWT), Expedia Group Inc., Hilton Worldwide Holdings Inc., Airbnb Inc., Hyatt Hotels Corporation, Accor Group, InterContinental Hotels Group PLC, BCD Group, The Priceline Group Inc., Flight Centre Travel Group Ltd., Cvent Holding Corp., Fareportal Inc., Travel Leaders Group Holdings LLC, World Travel Holdings Inc., Aviareps AG, FCM Travel Solutions, CT Travel Group Ltd, Wexas Ltd, JTB TRAVELS LLP, TravelPerk S.L.

Europe was the largest region in the bleisure travel market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the bleisure travel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the bleisure travel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Bleisure travel refers to a style of travel that merges business trips with leisure activities, enabling travelers to extend their stay at a destination for personal enjoyment and exploration. This approach allows professionals to make the most of their business trips by exploring new places, relaxing, and experiencing local culture without needing separate vacation time.

The primary types of bleisure travel are domestic and international. Domestic bleisure travel involves combining business and leisure within one’s own country, allowing travelers to integrate work commitments with personal leisure activities without crossing international borders. The duration of bleisure travel varies, ranging from 2-4 days, to 1 week, or even more than a month, accommodating different age groups, including millennials, Generation X, and others. It also includes professionals across various levels, such as executives, middle management, and entry-level employees, from sectors such as government and corporate industries.

The bleisure travel market research report is one of a series of new reports that provides bleisure travel market statistics, including bleisure travel industry global market size, regional shares, competitors with a bleisure travel market share, detailed bleisure travel market segments, market trends and opportunities, and any further data you may need to thrive in the bleisure travel industry. This bleisure travel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bleisure travel market includes revenues earned by entities by providing services such as accommodation, transportation, guided tours, event booking, concierge services, and local dining recommendations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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